Sixty-five years old Dewsbury commercial interiors company H Peel & Sons has undergone a Management Buy-in Management Buy Out (BIMBO) in a seven figure deal.
Founded in 1949, the £5m turnover company has a 30-strong staff. It has a long track record in designing and delivering commercial interiors for a wide range of buildings including pubs and bars, universities, students unions, hotels, health clubs, schools, care homes and offices. Peel specialises in shop fitting, refurbishment work, turnkey solutions and contract joinery for projects ranging from £10,000 to £2.0m. It provides a complete service from design to implementation and has its own in-house manufacturing capability.
Operations directors Andrew Pollock and Dominic Brogan have both worked in the business for over 25 years and, together with Seneca Partners, have acquired 100% of the shares in the company from former managing director Martin Peel. Martin is the son of the founder and has run the business for 44 years; the BIMBO is part of a planned succession strategy enabling him to retire although he will continue to work with the company on a consultancy basis in the short term.
New joint managing director Andrew Pollock said: “Knowing this business inside out, Dominic and I are well aware of its huge potential and relish the challenge of taking it forward to the next stage in its development.”
Dominic added: “Peel has a loyal customer base and a great workforce, so it will be very much business as usual. Our aim is to work with Seneca to build on the company’s solid foundations and continue to grow the business.”
Former managing director Martin Peel commented: “Having spent all of my working life building the business, I am happy to be leaving it in such capable hands and also to continue to be actively involved going forward. We have established a strong reputation, particularly in the hospitality and leisure sectors, and clients and staff can be confident that Andrew and Dominic will build on this success.”
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